Yellen: Stimulus Still Needed to Meet Goals on Jobs

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May 7 (Bloomberg) -- Bloomberg Television’s “Money Clip” Host Adam Johnson reports on Fed Chairman Janet Yellen’s testimony to Congress. (Source: Bloomberg)

Expected to win another five-year term.

The results will be announced in the next several days.

Today, federal reserve chair janet yellen testified before congress this morning.

Her message, qe is working in the fed will stick with it.

In the light of the considerable degree of slack that remains in labor markets and continuation of inflation below the committee's two percent objective, a high degree of monetary accommodation remains warranted.

During the economic recovery so far, payroll employment has increased by about 8.5 million jobs since its low point.

The unemployment rate has declined about three and three quarters percentage point since it is peak.

Conditions in the labor market have improved, but they are still far from satisfactory.

Question talked about housing as a potential risk to the fed generally positive outlook.

We need to see some pickup in household formation to see continued recovery in the housing market.

Mortgage rates went up a lot in the spring and summer.

They are still low by historical standards.

Housing remains affordable and i expected to pick up, but really, it has flattened out and it

This text has been automatically generated. It may not be 100% accurate.

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